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focusing on the economy and plans to grow the economy. right now the u.s. unemployment rate remains at a high 7.3%. at the live desk, back to you. >> new yorkers can ride metro north hudson line. crews have been work around the clock to remove debris and rebuild about 800 feet of track. four people died and 63 others were hurt when the train dera derail derailed. human error may be to blame. the director of the rail employee's union said engineer william rockefeller caught himself nodding off at the controls. he doesn't remember any of the events before the train left the tracks. rockefeller told police that when he realized there was a problem he reached for the brakes and they failed. data recorders showed the brakes were applied five seconds before the sliding. new today, cuba said it is ready to negotiate the release of a maryland man jailed in the country. in a statement, cuba said they are willing to come up with a solution in the case of alan gross, however they are also wanting to talk about the release of four cuban citizens detained for more than
focusing on the economy and plans to grow the economy. right now the u.s. unemployment rate remains at a high 7.3%. at the live desk, back to you. >> new yorkers can ride metro north hudson line. crews have been work around the clock to remove debris and rebuild about 800 feet of track. four people died and 63 others were hurt when the train dera derail derailed. human error may be to blame. the director of the rail employee's union said engineer william rockefeller caught himself nodding...
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we got data that the economy grew at the 3.6% rate and there was a drop in unemployment claims. it all adds up and the data showing that the economy appearing to be getting stronger and some believe it can with stand the federal reserve. >> good news and thanks a lot. >> absolutely. >> it with pride is a new exhibit opening right now at the national gallery of art. it tells about the volunteer infantry. it was one of the first official african-american units. the gallery produced a play called forward 54. here to talk about it is the play right. good morning. you brought with you a dad low. that will come to in a moment. we won't ask them to speak. they are part of this wonderful program. i looked over the materials you have and it's unbelievable. tell us about what you wrote. >> this compliments the exhibit what is commissioned by the education division. it brings the story to through the eyes of the four characters. one is a young drummer boy and com shaw himself. he led the regimen and usy sing taylor. >> when i look through the book that they produced for this exhibition, i
we got data that the economy grew at the 3.6% rate and there was a drop in unemployment claims. it all adds up and the data showing that the economy appearing to be getting stronger and some believe it can with stand the federal reserve. >> good news and thanks a lot. >> absolutely. >> it with pride is a new exhibit opening right now at the national gallery of art. it tells about the volunteer infantry. it was one of the first official african-american units. the gallery...
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. >>> positive signs for our economy tonight. the country's job market is getting stronger. the nation's unemployment fell to 7% in november. the lowest level we have seen in five years. analysts say it's because of a surprising boost in payrolls. employers added 203,000 jobs last month. it's about 20,000 more jobs than analysts were expecting. the economy added jobs for four straight months. >> that news sent the stock market soaring today. the dow closing 198 points higher, over the 16,000 mark. there were concerns it fed would take action on bond purchases which kept interest rates low and supported the stock market. >>> the d.c. police chief faced the media with several officers under investigation. what we learned about an officer accused of taking nude pictures of a 15-year-old girl. >>> two men wanted for a home invasion. >> reporter: consultants told the gaming commission they need to go with mgm. part of the reason location location location. i'll explain and hear what the competitors have to say, coming up on news 4 at 6:00. ♪ and all the fun we had last year ♪
. >>> positive signs for our economy tonight. the country's job market is getting stronger. the nation's unemployment fell to 7% in november. the lowest level we have seen in five years. analysts say it's because of a surprising boost in payrolls. employers added 203,000 jobs last month. it's about 20,000 more jobs than analysts were expecting. the economy added jobs for four straight months. >> that news sent the stock market soaring today. the dow closing 198 points higher,...
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wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. when you see disney's rapunzel at walmart, you snag it. mom, you own this season. get the hottest gifts, all backed by our christmas ad match guarantee. rated e10+. walmart. they're made of 88% active ingredients. and the competition clocks in at 13%. so with tide pods, you know what you get, and what you get is an amazing clean. so try tide pods. why? the proof is in the pop. in her favorite color? diamonds that capture her look, her style perfectly. kay jewelers presents the artistry diamonds collection. genuine diamonds, in vivid blues, greens, blacks, yellows and purples. the beauty of genuine diamonds in a palette of colors that express "her" perfectly. at kay, the number one jewelry store in america. artistry diamonds. they're diamonds of a different color. ♪ every kiss begins with kay >>> if you think the weather is bad here across much of the country this morning, be thankful you're not in art art ka where pr
wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. when you see disney's rapunzel at walmart, you snag it. mom, you own this season. get the hottest gifts, all backed by our christmas ad match guarantee. rated e10+. walmart. they're made of 88% active ingredients. and the competition clocks in at 13%. so with tide pods, you know what you get, and what you get is an amazing clean. so try...
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many hope it will show the economy added 180,000 jobs last month. if that is the case many experts believe it could signal the job market is picking up speed. they expect it to dip to 7.2%. >>> also today security will be tight around parts of downtown washington as people from around the world watch the annual lighting of the national christmas tree. megan mcgrath is live with what you need to know. megan? >> reporter: well, eun, the big show gets under way at 5:00 tonight. there's a preshow that starts at 4:30 this afternoon. all-star lineup. mariah carey, aretha franklin, all performing as part of the show. now i'm joined by jennifer with the national park service. talk a little bit about this year's show and i should mention right now we're showing video from last year. >> oh, terrific. thank you for coming to one of america's national parks. we're gearing up for the 91st annual christmas tree lighting. we expect mariah carey, aretha franklin, arturo sandoval and folks can go to nationalparks.0 org to see the full lineup. let's just say that it
many hope it will show the economy added 180,000 jobs last month. if that is the case many experts believe it could signal the job market is picking up speed. they expect it to dip to 7.2%. >>> also today security will be tight around parts of downtown washington as people from around the world watch the annual lighting of the national christmas tree. megan mcgrath is live with what you need to know. megan? >> reporter: well, eun, the big show gets under way at 5:00 tonight....
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the economy added jobs for four straight months. >>> tributes continue to pour in, the royal couple speaks out about nelson mandela. what they had to say moments after learning of his death. >>> we are live at the national christmas tree lighting. we'll show you the preparations under way and when you expect to see the first family. >>> it's likely going to be a rainy christmas tree lighting. >>> extremely sad and tragic news. we are reminded what an extraordinary and inspiring man nelson mandela was. my thoughts and prayers are with him and his family right now. >> they expressed condolences to nelson mandela's family. they learned of the death after attending a screening of the new mandela movie. two of mandela's daughters were there, they learned of the death before the movie ended and asked for the movie to continue. >>> performers will take the stage on the ellipse for the preshow before the national christmas tree lighting ceremony. >> most of the crowd is already in their seats. the first family is expected within the hour. mark segraves joins us live now on the ellipse in the middl
the economy added jobs for four straight months. >>> tributes continue to pour in, the royal couple speaks out about nelson mandela. what they had to say moments after learning of his death. >>> we are live at the national christmas tree lighting. we'll show you the preparations under way and when you expect to see the first family. >>> it's likely going to be a rainy christmas tree lighting. >>> extremely sad and tragic news. we are reminded what an...
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president obama is taking his message about the economy to the district. 'll te you what brought him to the southeast. and a live report from "30 >>> welcome back to news 4 at 4:00. i'm pat lawson muse. >> and i'm jim handly. president obama warned that the nation's economic future is threatened by what he calls a dangerous income disparity. he called for federal action to narrow the gaps, such as a hike in the minimum wage. steve handelsman is live on capitol hill with the story for us. >> thanks, jim. federal action, which means spending, which means this is part of the budget battle. and here on capitol hill tonight, both sides, there's good news. both sides saying that it looks like they're closer to a two-year budget agreement. but president obama today was looking a lot longer term than that, and frankly looking to change what has been the subject of washington. >> the president widened his focused from obama care to the economic class. >> if you work hard, you should make a decent living. >> fewer americans are. income disparities are getting worse.
president obama is taking his message about the economy to the district. 'll te you what brought him to the southeast. and a live report from "30 >>> welcome back to news 4 at 4:00. i'm pat lawson muse. >> and i'm jim handly. president obama warned that the nation's economic future is threatened by what he calls a dangerous income disparity. he called for federal action to narrow the gaps, such as a hike in the minimum wage. steve handelsman is live on capitol hill with the...
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these are real life problems, and these folks are already having a hard time in the economy, and their health care insurance is going up and they have to figure out how to get it. >> he just put out so much misinformation in two seconds that he can't answer. the reality is it hasn't messed up 80% of the market. the original market, which has already been broken, represents 5% of the market. a lot of those people were losing their health care on an annual basis before. we're trying to fix that. all the information about compromising your personal data, one of the great things about the affordable care act is we're not dealing with preexisting conditions. >> we're not going to settle this here and now. we're out of time, but obviously this gives you some indication to our viewers about where this debate is and how political it will remain as we move ahead perhaps into the new year. congressman rogers, congressman van hollen, thank you very much. let's get a reality check. i want to turn to dr. ezequiel emanuel. welcome to both of you. the reality test. here's the report saying dramatic p
these are real life problems, and these folks are already having a hard time in the economy, and their health care insurance is going up and they have to figure out how to get it. >> he just put out so much misinformation in two seconds that he can't answer. the reality is it hasn't messed up 80% of the market. the original market, which has already been broken, represents 5% of the market. a lot of those people were losing their health care on an annual basis before. we're trying to fix...
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. >> what about the businesses that are trying to make it in this economy, dave is this. >> there continues to be the argument, though, that if you do raise the minimum wage, not owned directly by mcdonalds, run by other people and would have to maybe lay off people, the argument goes or do automation. a lot of people are making that argument, even people that you would think would be on the other side of the aisle. that's obviously, i'm told by the people i talk to, something you have to think about. on the other hand, in this area, if the district and montgomery county are raising a modest increase in minimum wage, that would be a good thing, i'm told. you couldn't go from montgomery to get a better deal and d.c., back and forth. the question is, what is verge yain going to do? >> across the board, i've said it all the time. somehow both sides, those who don't want to raise minimum wage and those who do will have to come to some kind of compromise. the reason i'm saying that, last week we had the biggest road test of people walking offer the job. >> so we're doing food drives for walmart
. >> what about the businesses that are trying to make it in this economy, dave is this. >> there continues to be the argument, though, that if you do raise the minimum wage, not owned directly by mcdonalds, run by other people and would have to maybe lay off people, the argument goes or do automation. a lot of people are making that argument, even people that you would think would be on the other side of the aisle. that's obviously, i'm told by the people i talk to, something you...
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Dec 4, 2013
12/13
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these trends are bad for our economy. one study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. and that makes sense. when families have less to spend that means businesses have fewer customers. and households rack up greater mortgage and credit card debt. meanwhile concentrated wealth at the top is less likely to result in the broodly based consumer spending that drives our economy. rising inequality and declining mobility are also bad for our families and social cohesion, not just because we tend to trust our institutions less, but studies show we actually tend to trust each other less when there's greater inequality. and greater inequality is associated with less mobility between generations. that means the effects last. it creates a vicious cycle. for example, by the time she turns three years old, a child born into a low-income home hears 30 million fewer words than a child from well-off family. which means by the time she starts school she is already behind an
these trends are bad for our economy. one study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. and that makes sense. when families have less to spend that means businesses have fewer customers. and households rack up greater mortgage and credit card debt. meanwhile concentrated wealth at the top is less likely to result in the broodly based consumer spending that drives our economy. rising inequality and declining mobility are also bad...
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find out what's really happening to the global economy in the kinds of reports on. the media leave us so we leave that maybe. by the same motion suit your. play your part of the physical. issues that no one is asking with the guests that you deserve answers from it's all on politicking only on our t.v. . welcome back you're watching our theatre national i'm marina joshie now to iceland were some controversial ways of jumpstarting economy are being rolled out instead of trying to save the bankrupt banks the government let them go to the wall leadership then decided to reject a last deposit repayment scheme swayed by protesters who said this wouldn't be fair instead every household in the country will have twenty four thousand euros written off their mortgage banking executives accused of causing the crisis in the first place are also being pursued by the state professor of economics rodney shakespeare believes that iceland is setting a remarkable example you must rely on your own national bank for your own uses for your own really calling me for the spreading and if
find out what's really happening to the global economy in the kinds of reports on. the media leave us so we leave that maybe. by the same motion suit your. play your part of the physical. issues that no one is asking with the guests that you deserve answers from it's all on politicking only on our t.v. . welcome back you're watching our theatre national i'm marina joshie now to iceland were some controversial ways of jumpstarting economy are being rolled out instead of trying to save the...
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Dec 9, 2013
12/13
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is it the improving economy or is he divorced from the economy? >> it's really an important question because as susan said, it is difficult to really bounce back. if the economy does improve, that will help. no question about that. one of the things we have seen in public opinion over the last 60 days really is that this kind of base he had beneath him which is that people thought he was an honest president or a strong leader, some of that eroded significantly and i think that's the question as to whether even if the health care law seems to be working pretty well and even if the economy comes back, whether this sense of him as a weak president or somebody who was too detached has taken hold and it does divorce him from the forces that are changing the economy. >> fred, when you look at 2014, i know that it's easy to say it's going to be a bad year for the democrats because of health care and the president's job rating. you have this recovering economy. i assume that benefits all incumbent governors first. does it help democrats? >> yes, i do. i t
is it the improving economy or is he divorced from the economy? >> it's really an important question because as susan said, it is difficult to really bounce back. if the economy does improve, that will help. no question about that. one of the things we have seen in public opinion over the last 60 days really is that this kind of base he had beneath him which is that people thought he was an honest president or a strong leader, some of that eroded significantly and i think that's the...
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Dec 6, 2013
12/13
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today, archaeologists struggle to reconstruct the economies of the ancient world, because an economy is essential to any society, past or present. to understand the evolution of economies is to better understand people of all places and of all times. captions by captionamerica, pittsburgh, pa. funding for this program was provided by... for more information on t annenberg media ♪ provided by: narrador: en este episodio raquel y arturo siguen con la búsqueda de angel el hijo de rosario y fernando. el viejo amigo de angel, héctor, llama a arturo.
today, archaeologists struggle to reconstruct the economies of the ancient world, because an economy is essential to any society, past or present. to understand the evolution of economies is to better understand people of all places and of all times. captions by captionamerica, pittsburgh, pa. funding for this program was provided by... for more information on t annenberg media ♪ provided by: narrador: en este episodio raquel y arturo siguen con la búsqueda de angel el hijo de rosario y...
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Dec 10, 2013
12/13
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KQED
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economy. we've got big head winds from europe, from the currency, from ongoing deleveraging from households, we need to provide a lot of stimulus. but that stimulus can create risk. you mentioned the housing market, that's one example. we need to take other steps in order to reduce those risks. manage those risks, mitigate those risks and if we -- because if we don't we're going to create bigger problems down the road or we're going to have to pull back too soon on monetary policy which is the last thing we want to do. >> rose: we conclude with michael dell who just completed taking his company private. >> what i will say is that i'm very proud that during the time our company was public our stock appreciated over 13,500%, which was 27 times the amount of the s&p 500 during that same period. so, yeah, we missed something. everybody misses some things but we built one heck of a business. it's still one heck of a business and now it's growing at double digit rates and we're investing for the fut
economy. we've got big head winds from europe, from the currency, from ongoing deleveraging from households, we need to provide a lot of stimulus. but that stimulus can create risk. you mentioned the housing market, that's one example. we need to take other steps in order to reduce those risks. manage those risks, mitigate those risks and if we -- because if we don't we're going to create bigger problems down the road or we're going to have to pull back too soon on monetary policy which is the...
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Dec 8, 2013
12/13
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BLOOMBERG
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economy is good for the japanese economy. not the best number in the world but by no means the worst. >> how are investors supposed to play this dataset? >> we still find a large number have exposureot to the japanese equity markets in any form. we think that is a big mistake. there has been significant increases in value. we expect further significant increases in value. there is almost no doubt that there are going to be some big winners in the japanese economy going forward. >> thank you so much for that. >> all right. thank you so much for thoughts on the dataset. remember wincing attachment writing a letter with a real pen? things have changed. with the rise of mobile devices, one company is holding onto tradition. honda vehicles have been to the pen maker to see how fast honda nichols has been to the pen maker to see how it has survived. gloves at the pen factory. who really uses pens in the digital age? get, theotifications i more i appreciate it. there is a strong hunger for that. a mass manufacturer. eight charlie ch
economy is good for the japanese economy. not the best number in the world but by no means the worst. >> how are investors supposed to play this dataset? >> we still find a large number have exposureot to the japanese equity markets in any form. we think that is a big mistake. there has been significant increases in value. we expect further significant increases in value. there is almost no doubt that there are going to be some big winners in the japanese economy going forward....
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Dec 5, 2013
12/13
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CSPAN
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instead of doing bad things to the economy, we should be doing things to help move the economy forward. we have a proposal to invest more in our national infrastructure. as do people around the country, that we have huge unmet needs in that sector. it is a win-win to get jobs moving on that front. we pay for that infrastructure by saying that spent more of the moneys that were going to be spent on nationbuilding overseas to help invest in our economy right here at home. we have built lots of roads and lots of facilities in places like afghanistan. but sale at -- we are saying let's take some of those savings and invest them at home. invest in theo jobs of the future through early education. we believe we have to replace the sequester, no doubt about it. we understand that we may not be able to replace the whole thing at once, that we need to replace it, and we need to replace it in a balanced way, a way that calls for shared responsibility, which is why we have said from the beginning that in addition to making targeted cuts, we should also look at closing special interest tax breaks t
instead of doing bad things to the economy, we should be doing things to help move the economy forward. we have a proposal to invest more in our national infrastructure. as do people around the country, that we have huge unmet needs in that sector. it is a win-win to get jobs moving on that front. we pay for that infrastructure by saying that spent more of the moneys that were going to be spent on nationbuilding overseas to help invest in our economy right here at home. we have built lots of...
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the economy. is the public that just goes up and i don't think the country can afford it it will be very great to you know everyone could buy a house. i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner but that's a thing of a past this is ok if you didn't get this i think for individual people it would be good news but not for the country you never know where the money comes from for such gifts i says crisis plan though controversial has helped many there stave off financial disaster but here's what happens when government measures don't go so well almost a quarter of people in the live under the threat of poverty that's more than one hundred twenty million people too are the latest additions to the block ball gary in romania topped the list of europe's poorest countries and next as he can offer reports even the founding e.u. states like italy and are struggling more than ever. marco used to work as a pizza your many talents used to call it the
the economy. is the public that just goes up and i don't think the country can afford it it will be very great to you know everyone could buy a house. i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner but that's a thing of a past this is ok if you didn't get this i think for individual people it would be good news but not for the country you never know where the money comes from for such gifts i says crisis plan though controversial has...
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and this is the people who can't even afford to eat this is looking at the true state of the british economy now george osborne as we said he likes the deny the statistics deny the actual facts but tweet from the independent reads experts said government may be covering up how austerity and welfare cuts are adding to food crisis hunger in britain has reached the level of a quote public health emergency and the government may be covering up the extent to which all stared and welfare cuts are adding to the problem leading experts have said this is from the british medical journal and they spoke to a group of doctors senior academics and two leading universities all the way to calculate g.d.p. in this country is how many people are killing so it's really debt per death or a death so they'll be fuel poverty this winter meaning people will die like they did last winter and that will add to the g.d.p. so i was born talk about g.d.p. growth these are showing dead bodies and the first we looked at bodies over helps our g.d.p. growth. so the report by these doctors and universities. is that a surge i
and this is the people who can't even afford to eat this is looking at the true state of the british economy now george osborne as we said he likes the deny the statistics deny the actual facts but tweet from the independent reads experts said government may be covering up how austerity and welfare cuts are adding to food crisis hunger in britain has reached the level of a quote public health emergency and the government may be covering up the extent to which all stared and welfare cuts are...
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Dec 9, 2013
12/13
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two economies of roughly equal size means that the international involvement of those economies with each other and with the rt of the world are roughly on the same scale. so the international importance of the euro for private business is likely to be of roughly the same order of magnitude as the international importance of the dollar for private businesses. the creation of the euro was really a political event more than an economic event. of course it has economic consequences, but the reason the europeans did this was to accelerate their move to a european federation, to a united states of europe. schoumacher: having a common currency in which to do business, having increased the integration of european business enterprises and other activities across borders is more likely to create a single european market rather than a fragmented market. what the euro means is that member countries will no long be able to have their own monetary policies. what that means is that the interest rate in france and spain and germany and ireland must be the same, thereannot difft terest rates because
two economies of roughly equal size means that the international involvement of those economies with each other and with the rt of the world are roughly on the same scale. so the international importance of the euro for private business is likely to be of roughly the same order of magnitude as the international importance of the dollar for private businesses. the creation of the euro was really a political event more than an economic event. of course it has economic consequences, but the reason...
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Dec 6, 2013
12/13
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BLOOMBERG
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the economy contracted. a lot of concern in brazil at the moment. >> you get a sense that the designed to shine a light on the positives of the country, to get it to the front and center. you don't want the kind of that we have got at the moment. >> everyone is looking at you. over $1rica spent just billion of stadiums. brazil is spending three times theuch and everyone in country is asking questions, why? we need upgrades to infrastructure. there are a lot of people who need help. you saw it over the summer. a rising middle class demanding a -- more out of their government and asking why. they will be hoping the losses on the stadiums don't continue. >> thank you very much indeed, jonathan ferro. let's continue the conversation surrounding brazil. >> at skidmore on brazil after the tragic accident. brazil is set to meet the december deadline. while the stadium will eventually be complete, we want to know what deeper economic issues are thwarting progress. i am joined by gary greenberg, head of emerging mark
the economy contracted. a lot of concern in brazil at the moment. >> you get a sense that the designed to shine a light on the positives of the country, to get it to the front and center. you don't want the kind of that we have got at the moment. >> everyone is looking at you. over $1rica spent just billion of stadiums. brazil is spending three times theuch and everyone in country is asking questions, why? we need upgrades to infrastructure. there are a lot of people who need help....
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two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers overall pay has not fall and insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have dropped by five thousand pounds over the past five years so that's a drop of six point four percent according to the office of national statistics george osborne is saying those are a lie he's going to come out with his own report to show that in fact those numbers are deceptive yeah george osborne a stud so much a clown as he is one of these french minds and but he speaks which is kind of interesting for a mind he's more of a friend of mine it's a part of my show and he believes that these numbers do not tell the truth these are all remote greet the famous french artist who would say this us and it. was a post painting of a pipe this is not a pipe corridos more. so to put all of them so you. could you shouldn't blow you see she was also one of the mean frozen
two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers overall pay has not fall and insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have dropped by five thousand pounds over the past five years so that's a drop of six point four percent according to the office of national statistics george osborne...
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Dec 6, 2013
12/13
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CNNW
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how long before we decide, object, the economy is improves? at the current rate we're going which is too slow, we'll be at two plus more years of unemployment rate at about 6.5%. what we really need to do is to create jobs. better jobs. this is where the minimum wage starts to come in. all the strikes we've been noticing. these are workers, especially fast food places that are demanding much higher wages than they're colonelly getting which is a start. >> we're talking about raising the minimum wage. nancy, rand paul, senator paul was in detroit today. and he laid out an economic strategy. some of which i like and some of which i think was problematic. one of the things he said he wanted to do was to lift the requirements of paying prevailing wage and paying a wage to construction workers that for union construction workers. he said i want to lift that burden from construction companies. we've been talking about raising the wage. do you think it is an i crease in prosperity? >> i think it could be if it creates jobs. as someone who had a recor
how long before we decide, object, the economy is improves? at the current rate we're going which is too slow, we'll be at two plus more years of unemployment rate at about 6.5%. what we really need to do is to create jobs. better jobs. this is where the minimum wage starts to come in. all the strikes we've been noticing. these are workers, especially fast food places that are demanding much higher wages than they're colonelly getting which is a start. >> we're talking about raising the...
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economy i think was the u.k. guilt because in the march budget ten year gilts were trading at one point eight percent with the autumn statement it's now at two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers' overall pay has not fallen insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have dropped by five thousand pounds over the past five years so that's a drop of six point four percent according to the office of national statistics george osborne is saying those are a lie he's going to come out with his own report to show that in fact those numbers are deceptive yeah george osborne is thought so much a clown as he is one of these french mind and but he speaks which is kind of interesting for a mind he's more of a friend of mine it's a pentagon show and he believes these numbers do not tell the truth these are all
economy i think was the u.k. guilt because in the march budget ten year gilts were trading at one point eight percent with the autumn statement it's now at two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers' overall pay has not fallen insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have...
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is spending cuts to deal with their ailing economy there's no recovery in sight nor will there be for quite some time to protest too but assign it to stick with brussels assist with austerity ice and cannot be directly compared because of course of the size of the economies and indeed the population as well go i said with three hundred twenty thousand greece with eleven point three million people plus although foreign debt in iceland was six times higher than g.d.p. during the crash greece however after four years of austerity measures designed to reduce greece's public debt has instead continued to grow to one hundred seventy five percent of g.d.p. and the biggest difference of all of course greece has the euro iceland has the freedom of their own currency. let's get more perspective now from rodney shakespeare he's a professor of binary economics joining us from our london studios so do you share this optimism that iceland really is enjoying a financial recovery now. iceland is quite right to make an upfront challenge to the global financial system. unless you say that you're going
is spending cuts to deal with their ailing economy there's no recovery in sight nor will there be for quite some time to protest too but assign it to stick with brussels assist with austerity ice and cannot be directly compared because of course of the size of the economies and indeed the population as well go i said with three hundred twenty thousand greece with eleven point three million people plus although foreign debt in iceland was six times higher than g.d.p. during the crash greece...
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Dec 9, 2013
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landmarkelebrating at deal that could add to the global economy. it is the first deal in the 18 year history of the wto. to help globalpt commerce and food shortages. several street firms are under investigation for the hiring. they have widening inquiring where children of high politician and clients are hired. the u.s. -- there was a big surplus in years. here is a breakdown. >> that is right. almost close to five years. exports beat estimates. , less than expected, but still up. that was as traders where -- existing stock house. -- piles. there's global momentum. european companies and south korea and the u.s. -- when analysts look at the figure, they are slightly disappointed. it shows that china is not importing as much as you would like. a user the sense that perhaps domestic is soft. really focus on the important part of the equation. they have no the export art. can they show that they are not as reliant on exports and that there is a favor for domestic consumption. cbi. begin with coming in at 3%. of course, it is within that target 3%. go
landmarkelebrating at deal that could add to the global economy. it is the first deal in the 18 year history of the wto. to help globalpt commerce and food shortages. several street firms are under investigation for the hiring. they have widening inquiring where children of high politician and clients are hired. the u.s. -- there was a big surplus in years. here is a breakdown. >> that is right. almost close to five years. exports beat estimates. , less than expected, but still up. that...
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Dec 6, 2013
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i want to emphasize that although the economy has improved, it is far from a healthy economy that provides job opportunities for all who need and want to work, particularly the long-term unemployed. unemployment remains higher than it was before the recession and it has kicked down a little bit since the last time the program was renewed but in reality, that's because of labor force dropouts as opposed to a real decline in unemployment. if we included all the missing workers in our unemployment count, unemployment today would be 11%. this is not the kind of economy in which people struggling with long-term unemployment can find jobs. there are still officially three unemployed workers for every single job opening which means each month to out of three unemployed workers is completely out of luck when it comes to finding a job. second, i want to talk about the demographics of the long-term unemployed because this is important. the demographics are part in it are part of who lost jobs first and who suffered the most. while unemployment has cut across every demographic rubin our economy, work
i want to emphasize that although the economy has improved, it is far from a healthy economy that provides job opportunities for all who need and want to work, particularly the long-term unemployed. unemployment remains higher than it was before the recession and it has kicked down a little bit since the last time the program was renewed but in reality, that's because of labor force dropouts as opposed to a real decline in unemployment. if we included all the missing workers in our unemployment...
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Dec 4, 2013
12/13
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the other issue, obviously, is the economy. high unemployment, growing disparity in wealth and income in this country. >> vermont senator bernie sanders, great to have you on this morning. thanks for your time. >> thank you. >> absolutely. >>> after the president's speech on the economy this morning, he's going t stop by this afternoon's white house youth summit. the goal is to engage the so-called young invincibles, ages 18 to 35, that the white house is banking on to make obama care a success. joining me is dr. coreyhebert and elizabeth plank, executive social editor at policy mike. it's great to have you both here. elizabeth, in just a few hours policy mike is launching this week-long competition at today's youth summit. tell us about the competition and how you're hoping to engage the conversation about insurance. >> sure. we're really excited to be launching this competition today at the white house. we're going to be inviting millennials from across the country to give their ideas, their proposals and project ideas about
the other issue, obviously, is the economy. high unemployment, growing disparity in wealth and income in this country. >> vermont senator bernie sanders, great to have you on this morning. thanks for your time. >> thank you. >> absolutely. >>> after the president's speech on the economy this morning, he's going t stop by this afternoon's white house youth summit. the goal is to engage the so-called young invincibles, ages 18 to 35, that the white house is banking on...
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economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. dennis: the jobs market seems to be going in the right direction of that will it allow jobless benefits anyway? we have christopher dodd and jaundice and do you feel based on today's numbers it was a key jobs report that first of all, to start with men of wage? raised the minimum wage? >> no reason why people who work full time should not be able to afford to live. read a living wage where people could feel proud of what they do of what ever it is said the jobs created our service level jobs. a lot of people who have been through world war i of the unionized workers are of manufacturing paint is working in the service sector. then now these people go to work but now the government has to subsidize. stay back here is the
economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. dennis: the jobs market seems to be going in the right direction of that will it allow jobless benefits anyway? we have christopher dodd and jaundice and do you feel based on today's numbers it was a key jobs report that...
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Dec 8, 2013
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the economy is growing more slowly than it has in the last 50 years. the economy is growing slowly. and what happens under those circumstances nobody can afford to pay higher wages. you can say whatever else that you want about the wealthy and i don't disagree with that. but nar is a weak economy and it makes it impossible for us. and we're not competitive in a lot of manufacturing jobs. we've got to find a way to improve the education of these people because it's in the hi tech jobs where the money is being paid. >> the americans dropped down in reading and math. you get the small businesses and you get the mcdonald's and all of these folks and you raise that minimum wage that high and some of those places will shut down and go out of business. there's a tradeoff. lost jobs for higher money yum wage. >> no they won't. wal-mart will pass the loss off on customers. >> this is a political gamble by the president and he's going for the inequality issue. and what is the republicans' answer? >> they have found no evidence of loss of job the result of raising the minimum wage. and you can
the economy is growing more slowly than it has in the last 50 years. the economy is growing slowly. and what happens under those circumstances nobody can afford to pay higher wages. you can say whatever else that you want about the wealthy and i don't disagree with that. but nar is a weak economy and it makes it impossible for us. and we're not competitive in a lot of manufacturing jobs. we've got to find a way to improve the education of these people because it's in the hi tech jobs where the...
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Dec 3, 2013
12/13
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so the economy is 15 trillion-dollar. so it will generate jobs when those people will spend that money. but it's not a jobs program. it's a wage program. that increase, that economic activity, those people will spend that money. it will increase the amount for foods and services. who produces the goods and services? more workers, more workers will bwillneed to be hired. >> and richard, help me out here. will you be less reluctant to add another worker or two on a shift if your marginal costs per hour have gone up 10% to 25%? >> well, you have to put that question in context. first of all most of our low wage jobs are in the retail and service industries. a study was done on impact of raging minimum wage to $12.25. in the real retail industry that would amount to 1 hers of annual sales. 6% of payroll. so we're not talking about a dramatic shift, number one. number two, would you hire them? i think the answer is if you want to stay in business and want to stay competitive, yes, you will. no question about it. we're looking
so the economy is 15 trillion-dollar. so it will generate jobs when those people will spend that money. but it's not a jobs program. it's a wage program. that increase, that economic activity, those people will spend that money. it will increase the amount for foods and services. who produces the goods and services? more workers, more workers will bwillneed to be hired. >> and richard, help me out here. will you be less reluctant to add another worker or two on a shift if your marginal...
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Dec 7, 2013
12/13
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it looks like good news for the economy is finally good news for wall street. stocks rose sharply because of a super strong jobs report. american businesses added 2,300 jobs in november, much more than expected, and the nation's unemployment rate fell to 7% even, that's a five-year low. the rally was broad base with all ten sectors of the s&p 500 index on the plus side. today's gains come after five straight losing sessions on fears that a stronger economy would be the cat list for the federal reserve to cut back on the stimulus plan. now it looks like investors and traders believe a growing economy is good news. so here is a look at today's closing numbers. the dow shot up almost 200 points back above the 16,000 level. the nasdaq jumped about 30 and s&p rose 20 points returning to the 1800 mark again. >>> so where are all those jobs, and what do the gains mean for the economy? hampton pearson takes a look. >> just in time for the holidays, tanger outlets opened this 100 million dollar complex with 80 high-end retailers outside washington d.c. in light of today
it looks like good news for the economy is finally good news for wall street. stocks rose sharply because of a super strong jobs report. american businesses added 2,300 jobs in november, much more than expected, and the nation's unemployment rate fell to 7% even, that's a five-year low. the rally was broad base with all ten sectors of the s&p 500 index on the plus side. today's gains come after five straight losing sessions on fears that a stronger economy would be the cat list for the...
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economy. pope francis was very clear. said red crescent? [laughter] he cares about the message of christ's. we have to heed the words of poverty spread first of all, i would like to issue to the opel for issues of god island rather listen to stephen on issues of the economy. [laughter] capitalism has allowed it billion people to do triple for space it, over the past seven years the pope shed cozied up to us. >> i see it you could work as a child of the cold wind. in arkansas with people working two years with their kidss 60,000 but that is on a lot in california just with cost-of-living does not always work is great to raise minimum-wage there is too many variables that point to a clear path but ideally you do not want that of all wages and the recession you want to increase unemployment and you want those of benefits to drive wages down and the value could save that with unemployment benefits but they could never do that to adjust the problem with having a supply of that now is you want peopl
economy. pope francis was very clear. said red crescent? [laughter] he cares about the message of christ's. we have to heed the words of poverty spread first of all, i would like to issue to the opel for issues of god island rather listen to stephen on issues of the economy. [laughter] capitalism has allowed it billion people to do triple for space it, over the past seven years the pope shed cozied up to us. >> i see it you could work as a child of the cold wind. in arkansas with people...
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Dec 10, 2013
12/13
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this is a drag on the economy, but it's not out of choice. the long-term unemployed want to be self-reliant. these benefits -- these aren't european-style benefits, where they're permanent. they're without end. and even there people say, i would much rather have a job than permanent benefits. it's just unclear what kind of labor market rand paul is really talking about if he thinks 26 weeks is enough to get a new job in this economy. >> and the only way you can qualify for unemployment benefits is by working. so this notion that it promotes dependency -- and there's basic elements of economics that the rand pauls do not understand about this. let's listen to what president obama said about how unemployment insurance works in this economy. >> unemployment insurance is one of the most effective ways there is to boost our economy. when people have money to spend on basic necessities, that means more customers for our businesses and ultimately more jobs. just this week, the nonpartisan congressional budget office predicted that allowing benefits
this is a drag on the economy, but it's not out of choice. the long-term unemployed want to be self-reliant. these benefits -- these aren't european-style benefits, where they're permanent. they're without end. and even there people say, i would much rather have a job than permanent benefits. it's just unclear what kind of labor market rand paul is really talking about if he thinks 26 weeks is enough to get a new job in this economy. >> and the only way you can qualify for unemployment...
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Dec 9, 2013
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saw thenk everybody andgreement between india other developing economies with respect to developed economies on the agriculture package. this was the so-called g 33 proposal where the developing economies spearheaded by india insisted on basically linking the interim solution for the agriculture package to a permanent solution. this was something that was very difficult for the developed economies to accept. we came to a landing and that was one area of other was when the cubans along with three other countries, nicaragua, bolivia and venezuela, basically were suggesting that some change be made in a very last-minute. this was in the wee hours of saturday, way past the deadline of the meeting. we managed to pull through. on12:30, shortly after noon saturday, we were able to get all 160 countries to agree. i think a lot of this should go to roberto, the director general of the wto who basically showed the patients, the first appearance -- the perseverance to put everybody together. placeas been a very good for lots of agreements to take place. the is probably some of factors. these are some o
saw thenk everybody andgreement between india other developing economies with respect to developed economies on the agriculture package. this was the so-called g 33 proposal where the developing economies spearheaded by india insisted on basically linking the interim solution for the agriculture package to a permanent solution. this was something that was very difficult for the developed economies to accept. we came to a landing and that was one area of other was when the cubans along with...
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as we know they are in a transition period at the moment as an economy. that is a wonderful question and this is really the crux of the matter because at the moment china is sitting on around three and a half trillion u.s. dollars worth of foreign reserves now china doesn't really want to increase that amount to foreign reserves which is why it is trying to make the u.n. more tradeable in other words when you buy goods from china china is saying we're going to pack in trying the u.n. so that we don't have to sort of keep on taking in all these foreign reserves now eventually china as you quite rightly say is going to move from being export led to becoming more consumer led in other words they will have to spend some of those foreign reserves in order to buy foreign goods but i suspect you know china did really doesn't want to run down its foreign reserves too much but they would much prefer to use the chinese yuan which you can control itself you can print as much chinese yuan as it wants to so if it wants to start buying goods from the outside world it m
as we know they are in a transition period at the moment as an economy. that is a wonderful question and this is really the crux of the matter because at the moment china is sitting on around three and a half trillion u.s. dollars worth of foreign reserves now china doesn't really want to increase that amount to foreign reserves which is why it is trying to make the u.n. more tradeable in other words when you buy goods from china china is saying we're going to pack in trying the u.n. so that we...
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trajectory in the world economy although they have all been showing signs of some weakness. in recent months because the global situation is not good and the crisis in the global system is continuing to work itself out over many years and that affects everyone including the british now let's get a call and talk about the father this week so little and across his. small school the phone now is a jewel screen with a traditional l.c.d. color display alongside paper display on the system and so you. can do device on the inside itself a little in russia and several other european countries is right up prices around six hundred seventy five dollars a year up to six hundred dollars in russia which is why she saw it cheaper than competitors like i phone five in the summer galaxy s poll. shows a lot just employ russian broadway's has put a third of its employees about three hundred thousand on stilts and walking al is the head of them and. says that the part time show is necessary given the current economic climate on the decline in israel the ace. russia central bank wants masa bank
trajectory in the world economy although they have all been showing signs of some weakness. in recent months because the global situation is not good and the crisis in the global system is continuing to work itself out over many years and that affects everyone including the british now let's get a call and talk about the father this week so little and across his. small school the phone now is a jewel screen with a traditional l.c.d. color display alongside paper display on the system and so...
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Dec 10, 2013
12/13
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economy. if the economy remains strong, more demand less supply fairs will go up. but, american and u.s. airs have been reported by the justice department to give up seven teen pair of slots at la guardia airport in new york. those slots will be divided up right now between southwest and virgin america. the national airport, the justice department wants to see those slots go to low fairs too. >> or is it simply because there are fewer airline that can say more for fees and that's that. >> they are as much of the aaron industry as wings are to an airplane. they are here, they are not going to go away, what we will see is a change in how airline sell them. american has offered different bundles. and obviously, if you are a more loyal customer, if you pay a business type of fair, or if you carry certain credit cards you may get exempted from those fees. >> henry heart of the industry, henry thank you for coming on, we appreciate it. >> sure. >> it took a merger to save american airlines, it took
economy. if the economy remains strong, more demand less supply fairs will go up. but, american and u.s. airs have been reported by the justice department to give up seven teen pair of slots at la guardia airport in new york. those slots will be divided up right now between southwest and virgin america. the national airport, the justice department wants to see those slots go to low fairs too. >> or is it simply because there are fewer airline that can say more for fees and that's that....
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Dec 2, 2013
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economy is necessarily going to be good for the israeli economy. they're the largest trading partner with israel and the e.u. is second. the conciliatory tone is one that we heard him talking about tehran. we're hearing it from the gulf states as well. you have the gulf arabs as well as the israelis, they're kicking at the traces but in the end they realize they're still pulling the same cart, which is the cart of the u.s. foreign policy so they have to get on board at some point. later this week in bahrain, foreign ministers from the united states, from the u.k., gulf states, egypt will be meeting and sitting down. they invited their iranian counterpart as well. we can learn more about how this agreement is going to play out. >> yeah. so we'll have to see how that plans out, hadley. another follow-up. cutting things, that's interesting when we're wondering what was going to happen with iran. >> exactly. he gave me a wink. he said there was going to be fights with the ministries. he didn't want to touch education or hurt welfare basically spending.
economy is necessarily going to be good for the israeli economy. they're the largest trading partner with israel and the e.u. is second. the conciliatory tone is one that we heard him talking about tehran. we're hearing it from the gulf states as well. you have the gulf arabs as well as the israelis, they're kicking at the traces but in the end they realize they're still pulling the same cart, which is the cart of the u.s. foreign policy so they have to get on board at some point. later this...
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Dec 6, 2013
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economy. when he got into office, they had been really sapped by sanctions for all these years and could have gone either way. look at zimbabwe next door. interesting because you mentioned the sanctions risk. there was a divide in this country about the sanctions. reagan was slow to act and there was a lot of pressure or members of the congressional black caucus and other circles as they have been noting tonight, lots of concerts in support of mr. mandela, lots of concerts in support of those who said that we should not have any dealings with south africa as long as apartheid was still in place. >> the people for sanctions were on the right side of history because it really did weaken the regime and probably brought them to the bargaining table much quicker. >> in your article, you noted south africa's economic and clinical aspects were intertwined. how so? how did he help to narrow that defined? had growth rates under 1% during the entire apartheid regime. from the time he was a like did unti
economy. when he got into office, they had been really sapped by sanctions for all these years and could have gone either way. look at zimbabwe next door. interesting because you mentioned the sanctions risk. there was a divide in this country about the sanctions. reagan was slow to act and there was a lot of pressure or members of the congressional black caucus and other circles as they have been noting tonight, lots of concerts in support of mr. mandela, lots of concerts in support of those...
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Dec 6, 2013
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economy, a new report reveals the job picture is rienthing and unmroement is falling. a severe wind and ice storm is moving east. hundreds of thousands are without power, and travel problems are building. ♪ >>> in south africa and around the world people are k looking at the legacy of nelson mandela. meanwhile funeral plans are ama and the first lady will be there to pay their respects. here are some of the details of what is to come. on tuesday decemb10th an official public memorial will be held in johannesberg. his body will lay in state for three days. the memorial's culminate with a state funeral. finally, mandela will be buried on sunday december 15th. >> reporter: tributes are being paid and prayers made for the icon. and now the world can officially say good-bye to nelsonela on december 10th which will be the official memorial service. and then for the following three days his remains will lay in state. but before then south africans will have a chance to remember the man who change lives forever. >> we have declared the 8th of december as a national day of pr
economy, a new report reveals the job picture is rienthing and unmroement is falling. a severe wind and ice storm is moving east. hundreds of thousands are without power, and travel problems are building. ♪ >>> in south africa and around the world people are k looking at the legacy of nelson mandela. meanwhile funeral plans are ama and the first lady will be there to pay their respects. here are some of the details of what is to come. on tuesday decemb10th an official public memorial...
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Dec 6, 2013
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five years ago, the united states economy was reeling from a devastating economy since the late depression -- since the great depression. our economy was shrinking at an 8.3% annual rate. credit was frozen. our auto industry was sliding toward the abyss. and millions of americans were losing their homes and their life savings. to make matters worse, to contain the damage and keep their economy from melting down completely, american taxpayers were forced to provide extraordinary assistance to financial institutions and other companies, many of which had taken risks that contributed to the economic crisis. the president faced an economy teetering on the edge. in response, he quickly moved to put out the financial fires, restore growth and get people back to work. but he was also determined to make sure that a financial crisis like this never happens again. produced the most copperheads of overhaul of our financial system since the great depression. bringing our financial system into the 21st century and creating tools to address a complex and ever-changing market -- and set of markets and in
five years ago, the united states economy was reeling from a devastating economy since the late depression -- since the great depression. our economy was shrinking at an 8.3% annual rate. credit was frozen. our auto industry was sliding toward the abyss. and millions of americans were losing their homes and their life savings. to make matters worse, to contain the damage and keep their economy from melting down completely, american taxpayers were forced to provide extraordinary assistance to...
SFGTV2: San Francisco Government Television
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Dec 2, 2013
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that is essentially an innovation economy; right? because they were building off their major institutions the cleveland clinic so you say flips in business crayons claefd and akron metro coming together and saying we've got the help your network of small and medium sized companies we're not talking about big manufacturing firms that are retooling their business model and making investments in their facilities and any training workers and beginning to design their new proteins for global markets priermentd. because they're small they really need the help and support of intermediatey institutions so they can assess capital. they're all in what we would call the stem economic scientists and technology and engineering and math; right? and the country has really go forward for a long time the fact we've got a to start in our high schools having a fairly substantial number of kids on a track brown where ware doing computer science to get the skills to go into the firms and no non-manufacturing companies and get good jobs. we decided we, yo
that is essentially an innovation economy; right? because they were building off their major institutions the cleveland clinic so you say flips in business crayons claefd and akron metro coming together and saying we've got the help your network of small and medium sized companies we're not talking about big manufacturing firms that are retooling their business model and making investments in their facilities and any training workers and beginning to design their new proteins for global markets...
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Dec 5, 2013
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you may think that's bad news for the economy. over the long run that's true but in firs lowbut low productis an omen. >> good to see you. six big global banks accused of colluding to create line libor, setting the interest rate from everything, student loans to credit cards. citibank will play another $95 million as part of the settlement. as debated for three years now the rule could be a harsh reality for wall street. they're expected to pass a stricter version of the letter to keep from making speculative trades. they can't use your fossed mountain or cheaper borrowed money for trading. i have a full plate today but as we get close for next tuesday i'm going to make sure that we explain the control rule to you. doctor, doctor, why won't you take my obama insurance. why many physicians fear obama will hurt their bottom line and they've decided not to participate. and then pay your damn parking tickets. we'll have that story when we return. >> more than 29 the thousand americans enrolled in health plans over the weekend. that's
you may think that's bad news for the economy. over the long run that's true but in firs lowbut low productis an omen. >> good to see you. six big global banks accused of colluding to create line libor, setting the interest rate from everything, student loans to credit cards. citibank will play another $95 million as part of the settlement. as debated for three years now the rule could be a harsh reality for wall street. they're expected to pass a stricter version of the letter to keep...
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Dec 5, 2013
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the economy is stronger and improving. loweringhy people are the forecasts. a lot people are saying the same things and the volatility is down. the central banks are in the markets aggressively. whether or not that will last all of 2014 is a question. months?or the first six >> more likely than not. the economy will pick up stream -- steam and volatility is something that people are starting to think about whether or not that is appropriate. >> we will take a short break and continue our conversation with the head of markets research. manus cranny will give us an update in two minutes. in london, this is on the move. we are streaming on bloomberg.com and your tablet phone. francisco who is the head at goldman sachs. we're talking about 2014 and the terms. you talked about the trades. the second one that you are saying is in u.s. treasuries. >> we are recommending it to be short against european curves. the content is part of that is the federal reserve. if you look at the cross-section of interest rates, they are not where they should be, in relation to the m
the economy is stronger and improving. loweringhy people are the forecasts. a lot people are saying the same things and the volatility is down. the central banks are in the markets aggressively. whether or not that will last all of 2014 is a question. months?or the first six >> more likely than not. the economy will pick up stream -- steam and volatility is something that people are starting to think about whether or not that is appropriate. >> we will take a short break and...
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the grocery, keeping the economy going. some people say if you cut the benefits, you lose a quarter of a million jobs, you guys think folks are just sitting around, lazy? 1.3 million americans are lazy? >> of course not, van. you know better than that. >> then why take the lifeline -- >> let's not lump all republicans in one group. remember that speaker boehner is saying, look, i'm open to an extension as part of a budget deal, on the other side you had dick durbin say we don't necessarily have to have this just our way. so point one s. let's not let this issue upset a budget deal or a debt ceiling deal, which we need to keep the economy moving more broadly. in that is there room for compromise? of course. when it was 99 weeks, it's different from now, say 47 weeks, so now the super turbocharged level, but need mentioned earlier some states didn't extend the benefits. those states were probably mostly red states, frankly, with probably better economies to begin with, perhaps like texas, for example, or kansas, south dakota,
the grocery, keeping the economy going. some people say if you cut the benefits, you lose a quarter of a million jobs, you guys think folks are just sitting around, lazy? 1.3 million americans are lazy? >> of course not, van. you know better than that. >> then why take the lifeline -- >> let's not lump all republicans in one group. remember that speaker boehner is saying, look, i'm open to an extension as part of a budget deal, on the other side you had dick durbin say we...
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Dec 5, 2013
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the economy didn't always work for everyone. racial discrimination locked millions out of poverty -- or out of opportunity. women were too often confined to a handful of often poorly paid and it was only through painstaking struggle that more women, and minorities, and americans with disabilities began to win the right to more fairly and fully participate in the economy. nevertheless, during the post- world war ii years, the economic ground felt stable and secure for most americans, and the future looked brighter than the past. and for some, that meant following in your old man's footsteps at the local plant, and you knew that a blue-collar job would let you buy a home, and a car, maybe a vacation once in a while, health care, a reliable pension. for others, it meant going to college -- in some cases, maybe the first in your family to go to college. and it meant graduating without taking on loads of debt, and being able to count on advancement through a vibrant job market. now, it's true that those at the top, even in those year
the economy didn't always work for everyone. racial discrimination locked millions out of poverty -- or out of opportunity. women were too often confined to a handful of often poorly paid and it was only through painstaking struggle that more women, and minorities, and americans with disabilities began to win the right to more fairly and fully participate in the economy. nevertheless, during the post- world war ii years, the economic ground felt stable and secure for most americans, and the...
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. >>> the economy is climbing back. i'm christine romans. the economy is growing at the fastest pace since the beginning of 2012. driving growth? businesses. do they expect demand from consumers to surge and what happens if consumers are not buying? another critical sector to watch, housing. sales of new homes up 25% in october. the sharpest gain in 35 years. positive jobs numbers show the economy is healing. 203,000 jobs added in november. the u.s. on track now to create the most jobs since 2005. the jobless rate lowest in five years. stock market may have taken a breather, but it is a banner year for stocks. 25% of americans hold three quarters of all stocks. many americans are more concerned where the next meal is coming from than the 401(k). fast food workers striking against poverty wages. the economy, jobs, minimum wage. that is the president's agenda for the next three years. alex is the business director and chairman of the economic advisers. also with me is a former adviser to presidential candidate mitt romney. austin, let me start
. >>> the economy is climbing back. i'm christine romans. the economy is growing at the fastest pace since the beginning of 2012. driving growth? businesses. do they expect demand from consumers to surge and what happens if consumers are not buying? another critical sector to watch, housing. sales of new homes up 25% in october. the sharpest gain in 35 years. positive jobs numbers show the economy is healing. 203,000 jobs added in november. the u.s. on track now to create the most jobs...
SFGTV2: San Francisco Government Television
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Dec 2, 2013
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i worked in the space called the sharing economy. i want to pick up on something when we look at shared resources it's not just transportation it's he stind into every sector for services for children and the list goes on. and when we think about sharing assets as opposed to ownership them it's really good for that community building. and mayor lee you were one of the 15 mayors to sign the sharing resolution declaring our support. i'd like to hear our violation. but really around collaboration what does this mean for the government and vavns mechanisms and so forth >> gosh i could talk about the sharing but are other areas like mission bay and the pharmaceutical lavishes like fiber and bayer we did a lot in the infrastructure to visit them in but their you roifls the federal research dollars are a drying up so their innovating. they start thinking sharing we when you going down there today you see those expensive labors that are being shared by two or three pharmaceutical companies that wouldn't talk to each other years ago but they
i worked in the space called the sharing economy. i want to pick up on something when we look at shared resources it's not just transportation it's he stind into every sector for services for children and the list goes on. and when we think about sharing assets as opposed to ownership them it's really good for that community building. and mayor lee you were one of the 15 mayors to sign the sharing resolution declaring our support. i'd like to hear our violation. but really around collaboration...
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Dec 9, 2013
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you could harm the economy that way. on the other hand, you have to look ahead and say can we keep doing everything we're doing once the economy recovers, and the answer is no. it just doesn't add up. it's a matter of math that our spending is going to exceed be revenues by an amount that what happens is you have to borrow money to make up that difference, and you have to pay interest on that money, it's like trying to live off of your credit card. eventually, it becomes unsustainable. so, you know, the point is not that you need to cut somebody's social security benefits in this year to try to balance the budget or next year or the next few years. what you need to do is look at the commitments and how are you going to pay for them and come up with something that over time is going to be sustainable. and that's really what the grand bargain is about. it's not about austerity. people sometimes think, well, this is, you know, why are you trying to push austerity in a bad economic time. and we've really got two problems. we
you could harm the economy that way. on the other hand, you have to look ahead and say can we keep doing everything we're doing once the economy recovers, and the answer is no. it just doesn't add up. it's a matter of math that our spending is going to exceed be revenues by an amount that what happens is you have to borrow money to make up that difference, and you have to pay interest on that money, it's like trying to live off of your credit card. eventually, it becomes unsustainable. so, you...
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economy? >> no. the coal names -- i'll tell you what i look at, kelly, year end, when i see credit default swaps in certain names like peabody, havnanian outperforming the equity, those are names i'm positive on. it's a good sign going into year end. >> larry, thanks so much. thanks, everybody. we'll keep the panel around. tim seymour has to run. can you catch him on "fast money" at 5 p.m. >>> much more today on the power packed rally. we'll get the view from the floors of the nasdaq. domino's ceo weighing in on today's jobs report and how they're on the hiring front and what he has to say about the minimum wage debated and drones delivering pizza to your doorstep. before global opportunities were part of their investment strategy... before they funded scholarships to the schools that gave them scholarships... before they planned for their parents' future needs and their son's future... they chose a partner to help manage their wealth, one whose insights, solutions and approach have been relied on fo
economy? >> no. the coal names -- i'll tell you what i look at, kelly, year end, when i see credit default swaps in certain names like peabody, havnanian outperforming the equity, those are names i'm positive on. it's a good sign going into year end. >> larry, thanks so much. thanks, everybody. we'll keep the panel around. tim seymour has to run. can you catch him on "fast money" at 5 p.m. >>> much more today on the power packed rally. we'll get the view from the...
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that money goes right back into the economy. so is it -- who has the upper hand here when they look at it? do people look and go well, the stimulus, you know, may have worked. it plays out in arguments? >> part of what you're seeing with the politics is you have this dlcliff. a lot of people would be getting extended unemployment benefits and then right after christmas they wouldn't. that is the not the best way to do it. most states reduced the weeks of unemployment benefits already. that is not the way to go about it. it's to suddenly yafrpg the rug out from a lot of families that are feeling a lot of pain already. i think say little bit of -- the democrats are really going to push for this. think think there is a little queez jiness among republicans that just letting two million families all of a sudden see the end of this. >> it needs to be extended. 7% unemployment rate is where the employment rate is the typical recession is. you consider people who are underemployed and given the low wage growth, i think the economy is t
that money goes right back into the economy. so is it -- who has the upper hand here when they look at it? do people look and go well, the stimulus, you know, may have worked. it plays out in arguments? >> part of what you're seeing with the politics is you have this dlcliff. a lot of people would be getting extended unemployment benefits and then right after christmas they wouldn't. that is the not the best way to do it. most states reduced the weeks of unemployment benefits already....
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economy will global economy continues to grow. cheryl: they can't cut any more. and productivity. >> you will start seeing revenue increases, and the economy as a whole, earnings by cutting and creating more. and increase third quarter gdp is an anomaly, and as a whole you take that and say things wwll get better, more products gets old and services rendered in 2014. cheryl: the bigger question for the markets, we are down a few points. and to make that -- >> a string of economic data don't have a string, one or two data points at best. today's data there's a caveat for each of those points, and because of the thanksgiving holiday associated with that. we are far away from actual tapering, december and january, the problem in january a transition period. and it is where it goes. >> march bite be a little early. they want to telegraph any move, the biggest fool is forward guidance. so you see them talk about capering and talk about capering more and more before they do it so i would expect them to have three or four different fomc minutes, increased likelihood of
economy will global economy continues to grow. cheryl: they can't cut any more. and productivity. >> you will start seeing revenue increases, and the economy as a whole, earnings by cutting and creating more. and increase third quarter gdp is an anomaly, and as a whole you take that and say things wwll get better, more products gets old and services rendered in 2014. cheryl: the bigger question for the markets, we are down a few points. and to make that -- >> a string of economic...
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that's very damaging to our economy. estimates are that every dollar invested in unemployment insurance pays back 1.6 to $2 in added growth of gdp. secondly, we know that unemployment insurance is an effective anti-poverty tool and we care about that in this country. the census bureau reported that in 2012, unemployment insurance alone kept 1.7 million americans out of poverty including close to half a million children. as congresswoman del lore row said, it is scandalous that in the richest nation in the world that one in six americans is living in poverty. and the least that this congress can do is make sure that it doesn't exacerbate that problem by cutting off the vital income that millions of americans rely upon. finally, i want to just put to rest the kin nard that long-term unemployment insurance keeps people unemployed. number one, that reflects that people who say that don't understand how unemployment is officially counted. one is only counted as unemployed if one is looking for work. the long-term program requ
that's very damaging to our economy. estimates are that every dollar invested in unemployment insurance pays back 1.6 to $2 in added growth of gdp. secondly, we know that unemployment insurance is an effective anti-poverty tool and we care about that in this country. the census bureau reported that in 2012, unemployment insurance alone kept 1.7 million americans out of poverty including close to half a million children. as congresswoman del lore row said, it is scandalous that in the richest...
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horse economy. it ain't a racehorse. it ain't going to run the kentucky derby but it's not going to kill over and die, either. right now business leaders and executives are stuck in the middle. they don't see a boom coming but worried about problems and clearly worried about uncertainty with government policy. what that does is sticks them in the middle. i think another couple quarters of good economic data, more news of positive job growth and you're likely to see that happen. >> okay. >> one other quick thing and that is it just costs less to buy computers today, to make investmen investments. their businesses are investing but sometimes when we look at the spending itself, if they spend less on a computer, it may look like they are not even though they are investing. >> we'll see what 2014 holds. >>> meanwhile, mortgage rates edged higher this week following encouraging data about new home sales and job growth. the average rate on a 30-year fixed rate is 4.46%, up from 4.29% just last week, accor
horse economy. it ain't a racehorse. it ain't going to run the kentucky derby but it's not going to kill over and die, either. right now business leaders and executives are stuck in the middle. they don't see a boom coming but worried about problems and clearly worried about uncertainty with government policy. what that does is sticks them in the middle. i think another couple quarters of good economic data, more news of positive job growth and you're likely to see that happen. >> okay....
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the american economy's been through a ton of transitions like this. like 150 years ago, almost everybody worked in agriculture and you had big shifts in and out of industries. so, if the shift is out of retail, the question is what can come next? and you say the future of retail is stuff coming to you, but that's also kind of the future for the sellers. you have sites where people can market artisanal gooz, jewelry and clothing. some of them were selling before, but some of them weren't selling anywhere. it's creating new business opportunities, so i think we need policies aimed at creating new jobs, especially middle-scale jobs that people can go into as these other industries fall away, but in general, these sorts of innovations are a good thing. it's good that it's easier for people to buy and sell things, and in general, in the past, the economy has figured out new things for people to do. >> yes, right, so, there's a thing called the lump of labor fallacy, which is this idea that every time there's a new labor-saving device that no one's going to
the american economy's been through a ton of transitions like this. like 150 years ago, almost everybody worked in agriculture and you had big shifts in and out of industries. so, if the shift is out of retail, the question is what can come next? and you say the future of retail is stuff coming to you, but that's also kind of the future for the sellers. you have sites where people can market artisanal gooz, jewelry and clothing. some of them were selling before, but some of them weren't selling...
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is there a connection between rebound in the economy and the healthcare act? >> the link is that this law all thetually for attention to it now is more than three years old, that, you know, jobs growth, you might say, despite the affordable care act, despite the predictions from republicans and its other opponents that this killer, theob consistent description for it, and jay carney opened up his houseng at the white today by suggesting that the eachgrowth consecutively month have coincided with the time period in fact the affordable care act has been on the books. gwen: is that plausible? >> no. the one case they do have is that there are fewer people part-time involuntarily and that was supposed to be something that was going to happen because of the affordable care act. it looks like the shutdown and all that furor didn't really stop the economy. gwen: the word they've been using instead is because the resilient is why it's happened. that's the good news part of it goes so far because just under the surface, there was a lot of evidence of uncertainty. heade
is there a connection between rebound in the economy and the healthcare act? >> the link is that this law all thetually for attention to it now is more than three years old, that, you know, jobs growth, you might say, despite the affordable care act, despite the predictions from republicans and its other opponents that this killer, theob consistent description for it, and jay carney opened up his houseng at the white today by suggesting that the eachgrowth consecutively month have...
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basically a economy without a lot of dynamism. 2% would be okay if we were full employment, economy's potential, somewhere around 2 1/2%. liz: interesting to me we're saying, very thing some people in congress asked for, particularly conservatives, slim down, cut back, they did. you're saying that because of those cutbacks that is the drag on the economy? >> absolutely. i mean in other contexts you could talk about the private sector making up the gap but when we're still so far full employment, so much excess capacity, no one rushes out to invest because the local government laid off school teachers or federal government laid off air traffic controllers. doesn't make any sense. we need the demand in the economy. we're just not getting it. liz: what should we be doing? we've done what one side wanted to do, that is cut back on government jobs. we've done what the democrats wanted to do, the president got a stimulus passed. president bush went through with the tarp and bailed out the auto industry. yet we're not seeing the job growth or unemployment rate at levels we need to see it at.
basically a economy without a lot of dynamism. 2% would be okay if we were full employment, economy's potential, somewhere around 2 1/2%. liz: interesting to me we're saying, very thing some people in congress asked for, particularly conservatives, slim down, cut back, they did. you're saying that because of those cutbacks that is the drag on the economy? >> absolutely. i mean in other contexts you could talk about the private sector making up the gap but when we're still so far full...
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economy is growing but so is the income gap between the rich and the poor. president obama will talk about how to change that and other aspects of the economy when he speaks at a washington think tank in just a few minutes. mike viqueira joins us from washington. mike, good morning, what are some of the main points the president is expected to address? >> reporter: you are right, the president turning a page now after the last two months healthcare.gov debacle. he is going to talk about the grows gap between rich and poor. it's not a new story or a new subject for president obama. he talked ariel castro it two years ago in a benchmark speech in kansas. and he spoke a little bit about in this year's state of the union. the top 1% in this country have seen their income triple over the course of the last 28 years, meanwhile the middle class has scene their income grow at a modest 1% on average over the course of that same time annually. so the president will be talking about that. he'll be talking once again renewing his call to raise the minimum wage. a lot of
economy is growing but so is the income gap between the rich and the poor. president obama will talk about how to change that and other aspects of the economy when he speaks at a washington think tank in just a few minutes. mike viqueira joins us from washington. mike, good morning, what are some of the main points the president is expected to address? >> reporter: you are right, the president turning a page now after the last two months healthcare.gov debacle. he is going to talk about...
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economy but it could bolster the view that the economy is gaining traction and could affect policymakers decisions on whether or not to scale back their asset purchases. from the fed's 12 districts, early october to mid november, that includes the 16-day government shutdown. economic activity continued to expand at a modest to moderate pace. manufacturing activity continues to expand in most districts. reports on retail spending were deeper into the beige book, seven out of 12 strips reported modest growth. tourism is affected in some districts. on manufacturing, the report says it continues to expanded most districts with gains noted in motor vehicle and technology industries. many expressed optimism about near-term growth prospects. there is also an upbeat assessment of consumer spending. looking forward to the holiday season, retailers reported being hopeful and cautious. they were reported as moderate to strong. on the key question, what is going on in the labor market? the beige book reports hiring showed a modest increase. difficulty with qualified workers for high skilled --itions
economy but it could bolster the view that the economy is gaining traction and could affect policymakers decisions on whether or not to scale back their asset purchases. from the fed's 12 districts, early october to mid november, that includes the 16-day government shutdown. economic activity continued to expand at a modest to moderate pace. manufacturing activity continues to expand in most districts. reports on retail spending were deeper into the beige book, seven out of 12 strips reported...
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economy. the relatively small amount in the recovery act for infrastructure created many jobs because there's a strong multiplier effect. about 36,000 jobs for each $1 billion invested. and these are family wage jobs all across america that aren't going to be outsourced overseas. in less than a year, the transportation bill expires and absent congressional action we face a precipitous drop in transportation funding, a reduction of 30% overall for the next decade. to be this way. i'm proposing we implement the three-step 15 cent gallon tax ncrease that was part of the simpson-bowles deficit reduction proposals. communities and industry need some certainty, especially for larger projects that are multistate and multiyear. and this should be the last federal gas tax increase. over the next 10 years, we need to replace funding for transportation that's based on gallons of fuel consumed, which is going to be declining, with something more sustainible. a reasonable adjustment now and a permanent fix
economy. the relatively small amount in the recovery act for infrastructure created many jobs because there's a strong multiplier effect. about 36,000 jobs for each $1 billion invested. and these are family wage jobs all across america that aren't going to be outsourced overseas. in less than a year, the transportation bill expires and absent congressional action we face a precipitous drop in transportation funding, a reduction of 30% overall for the next decade. to be this way. i'm proposing...
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south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and former chairman of b.e.t., old friend of mine. robert, you met nelson mandela many times, okay. how many times did you meet him, what are your thoughts tonight as he passes away? >> yeah, i had the great and humbling pleasure of meeting president mandela on a number of occasions, first with the former commerce secretary, late ron brown, and then i also accompanied president clinton on his historic trip to sub-saharan africa and of course when president mandela came to the united states seeking to raise funds to continue to fight apartheid and support his charities. the one thing, larry, that strikes me abo
south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and...
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a market economy does have its own principle of income distribution. a market economy pays people more the mo economically productive they are. this principle probably keeps the productive process running rather smoothly, and this ultimately provides more abundance for all of us. however, many people can get left out in this process-- for instance, people who att both poor and ill. when a poor person gets seriously ill, his already low productivity suffers a severe blow while his need for support mounts sharply-- often catastrophically-- given today's momeal medical costs. the medicaid program says, in effect, that this burden is too great r any individual to bear by himself. the market mayave a just appreciation of abilities, but it doesn't have a just appreciation of needs. society has to step in. there is always some cost to this. when you start redistributing income, you're increasing tax burdens on the economically more productive groups in the economy. medicare and medicaid programs have a tendency to up medical costs generally. as in many econom
a market economy does have its own principle of income distribution. a market economy pays people more the mo economically productive they are. this principle probably keeps the productive process running rather smoothly, and this ultimately provides more abundance for all of us. however, many people can get left out in this process-- for instance, people who att both poor and ill. when a poor person gets seriously ill, his already low productivity suffers a severe blow while his need for...
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why is the economy improving. because consumers are continuing to stand and we are seeing the housing market. i can has been a big driver. that has really come back strongly this year. it is very important because not only is the real estate sector an important part of the economy. it leads to construction jobs and people buy homes and furnish those homes. i think the gains we have seen in the home sector has really helped. >> let me ask you about the federal reserve and the policy put in place by ben bernanke likely to continue in the next likely chair of the federal reserve, yellen. i want to ask you about quantitative easing and quantitative easing three. will it continue under janet yellen? guest: it will certainly continue. the question is whether or not they will start to end it. at this point, they have continued to push forward on the bond buying program, a stimulus program for the economy. there has been a lot of talk that maybe action as this month's meeting, they will say, we will fall back on the level
why is the economy improving. because consumers are continuing to stand and we are seeing the housing market. i can has been a big driver. that has really come back strongly this year. it is very important because not only is the real estate sector an important part of the economy. it leads to construction jobs and people buy homes and furnish those homes. i think the gains we have seen in the home sector has really helped. >> let me ask you about the federal reserve and the policy put in...
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scott: the fed has way outpaced the economy. angie: topic two: drone groan. amazon is showing off delivery drones-- will the stock continue to ride higher? and what other tech stocks could get an air lift? scott: i'm gonna stay short of being short tech stocks right now because i feel as through we're going back to a 1999 scenario where we're seeing some of these valuations way outpaced what they're actually worth. bricks and mortar and or/what they produce. twitter hasn't even given us a profit. alan: a lot of these ipo stocks make no money, so i'm with you on that. but let's get back to amazon. amazon is its own entity. it doesn't make money but you cannot fight this stock. i'm not gonna make any pizza cracks here because that's where they're going with the drone delivery. but i think the play here on the internet on the amazon type sales is ebay. ebay at 50 bucks. scott: alan, you've fallen for bezos' ploy. alan: it's working! scott: he just talks about a drone. it's not gonna ever happen and here we are talking about his stock. he's getting free advertise
scott: the fed has way outpaced the economy. angie: topic two: drone groan. amazon is showing off delivery drones-- will the stock continue to ride higher? and what other tech stocks could get an air lift? scott: i'm gonna stay short of being short tech stocks right now because i feel as through we're going back to a 1999 scenario where we're seeing some of these valuations way outpaced what they're actually worth. bricks and mortar and or/what they produce. twitter hasn't even given us a...
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it will actually harm our economy. unemployment insurance is one of the most effective ways there is to boost our economy. when people have money to spend on basic necessities, that means more customers for our businesses and ultimately more jobs. >> the republicans are focusing on obama care. >> families who work hard and play by the rules deserve some basic choices, fairness and relief. that's why the house has passed legislation to delay the individual mandate for all americans and let you keep the plan you like. these proposals are among the dozens of jobs bill awaiting action in the democratic-run senate. >>> good news on the jobs front. 203,000 jobs were added in november, and the unemployment rate dropped to a five-year low of 7%. kristen welker, good saturday morning to you. what's the white house's take on the latest numbers? >> alex, good morning to you. the white house certainly touting the fact that the unemployment rate at its lowest level in five years. also highlighting the fact that a lot of this job gr
it will actually harm our economy. unemployment insurance is one of the most effective ways there is to boost our economy. when people have money to spend on basic necessities, that means more customers for our businesses and ultimately more jobs. >> the republicans are focusing on obama care. >> families who work hard and play by the rules deserve some basic choices, fairness and relief. that's why the house has passed legislation to delay the individual mandate for all americans...
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Dec 7, 2013
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work still needs to be done to create more jobs to get the economy on the right track. that is a sentiment shared by the united states secretary tom perez who spoke to me right as the new figures came out today. >> when you look at the broadest measures of unemployment, we have a measure that looks at not only folks who are out of work, but folks who are discouraged. folks who are marc marginally attached to the employment rate. that is--that is good news. >> good news, he said. anand a combined 45,000 jobs, a quarter of all jobs created in november, those positions typically pay $26 an hour. but before we get too excite excited, nearly one in five of the jobs created last month came from the relatively low-wage sector of retail and leisure. that speaks to a big problem in that recovery. the quality of the jobs being created is not as good as many of the middle class jobs that were destroyed during the recession. we have that story. >> reporter: it's been a job recovery built on part timers, waiters, waitresses and others jobs that don't really pay much. most of the gro
work still needs to be done to create more jobs to get the economy on the right track. that is a sentiment shared by the united states secretary tom perez who spoke to me right as the new figures came out today. >> when you look at the broadest measures of unemployment, we have a measure that looks at not only folks who are out of work, but folks who are discouraged. folks who are marc marginally attached to the employment rate. that is--that is good news. >> good news, he said....
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economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i mean, i think -- >> it was somewhere in between. >> you're talking to somebody who continued embracing marxist policies -- >> but many people thought the country was going to go all the way down, but that didn't happen. and it didn't happen that -- the social needs versus the free market. >> well, you see, i think he came to learn that it's not about balancing the free market versus social needs, that they often converge. >> he said he had to balance the fears of the white population versus the hopes of the black populatio
economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i...
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blame it on a new bach of positive reports on jobs, housing and the upbeat survey on the economy. the take away for investors, the fed will taper back stimulus plans and that might not be good for the markets. all this comes just two days before the release of the monthly jobs report. a key data point for central bank policy makers. it's no wonder stock averages between gains and losses and finally ending mostly in the red for the day. the dow lost 25 but down as much as 125 earlier in the day and the nasdaq edged up a fraction and s&p fell two points. the same concerns about the fed's next move sent the yield on the benchmark treasury note above 2.8%, the highest since september. >> how does the federal reserve see the economy right now as it prepares for the next policy meeting next month? steve liesman looks at the beige book survey and what that, along with this friday's november jobs report, could mean for the future of its stimulus program. >> reporter: some strong employment data today raising prospects for better job growth and less stimulus. adp in a much followed monthly
blame it on a new bach of positive reports on jobs, housing and the upbeat survey on the economy. the take away for investors, the fed will taper back stimulus plans and that might not be good for the markets. all this comes just two days before the release of the monthly jobs report. a key data point for central bank policy makers. it's no wonder stock averages between gains and losses and finally ending mostly in the red for the day. the dow lost 25 but down as much as 125 earlier in the day...
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good news for the white house and the economy. we'll see if it sustains into the fourth quarter and next month, and whether the deadline in washington. january the 15th, coming to an agreement. >> despite the economic news, 11 million americans are unemployed. since the recession, women have fared better than men in finding jobs. that's as more and more women are choosing to stay single and financially independent. >> marion luggett got married at 16, left her husband at 19. wanda was married at 17 and divorced later. >> i'm not going to depend on a >> i don't think i would have stepped out boldly or been successful if i had still been married. it's stad -- sad but true. >> these are two reflections of the marriage rate. half a century ago 61% of the population was married. now it's down to 35%. divorce is more common over the same period. from nine divorced women the rate climbs to 21 per thousand. marion and wanda represent the economic disparities. >> they haven't been used in 30-40 years. now they are going be developed into a
good news for the white house and the economy. we'll see if it sustains into the fourth quarter and next month, and whether the deadline in washington. january the 15th, coming to an agreement. >> despite the economic news, 11 million americans are unemployed. since the recession, women have fared better than men in finding jobs. that's as more and more women are choosing to stay single and financially independent. >> marion luggett got married at 16, left her husband at 19. wanda...
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economy. those are the jobs we need to raise wages for. >> jack brings up an important point, seven out of ten growth occupyings through 2020 are low-wage jobs. this the american job market. the president has supported this, we have a lot of democrats who have come out and supported thchl i think it is much harder, actually, for conservatives to dismiss the minimum wage in the way they dismiss other parts of the social safety net. this is not an entitlement program. there's economic stimulus. i think this puts conservatives in a tough position. >> it does put republicans in a tough position. majority of republicans think this is a good idea. the president talked beauty this yesterday. he's been talking about this for as long as he's been in public life. how is it we get more hone into the hands of working americans so we can grow the economy with people actually going out and working every day and building the economy with their hands and their brains. the next challenge for the democrats, how
economy. those are the jobs we need to raise wages for. >> jack brings up an important point, seven out of ten growth occupyings through 2020 are low-wage jobs. this the american job market. the president has supported this, we have a lot of democrats who have come out and supported thchl i think it is much harder, actually, for conservatives to dismiss the minimum wage in the way they dismiss other parts of the social safety net. this is not an entitlement program. there's economic...
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Dec 2, 2013
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but when we talk about an open economy, a bottom-up economy, those are our principles. and the world they live in, open things is better than closed things. bottom-up is better than top- down. to connect in their world -- obamacare didn't fail because, hey, they just didn't happen to do this right. it failed because of the same reason that other stuff fail. it is old. it is top-down. it is factory. our principles are always fresh and new ideas if we just become about them in ways that say, hey, our principles are good for more than just saying no. we have a way to better organize society, solve problems, open school system, where parents get to actually choose the best school for their kids and you go get trapped in a failing school. an open health care system. an opened economy where you don't have political top-down decisions. those are the kind of things that will work better for you. >> i want you to join in with what we are talking about here and the positive message and the constructive way forward to but also, if you can talk about the energy revolution. so many
but when we talk about an open economy, a bottom-up economy, those are our principles. and the world they live in, open things is better than closed things. bottom-up is better than top- down. to connect in their world -- obamacare didn't fail because, hey, they just didn't happen to do this right. it failed because of the same reason that other stuff fail. it is old. it is top-down. it is factory. our principles are always fresh and new ideas if we just become about them in ways that say, hey,...
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because is the economy dependent going? >> i think the economy would be a lot better if the president would get out of the way and stop trying to help because what he proposes of policies are the problem and i am not basing it on a partisan point because bush got us in with big government. obama is digging us in deeper. why is the media not paying attention? he is giving the same speech, more government, higher taxes, more intervention, more regulation. i guess we ought to have automatic french translation policy. >> dan mitchell and david k. johnson, appreciate you joining us to talk about this tonight. thank you. >> thank you. >> switching topics now from the economy and freedom for financial equality for freedom for some of the smartest animals. the non-human rights project filed a habeas corpus suit in an effort to win release from a cage for a 26-year-old chim pans e called tommy. the suit will file for a 26-year-old cheek named kiko and two used in a research lab. the non-human rights project says it plans to file sui
because is the economy dependent going? >> i think the economy would be a lot better if the president would get out of the way and stop trying to help because what he proposes of policies are the problem and i am not basing it on a partisan point because bush got us in with big government. obama is digging us in deeper. why is the media not paying attention? he is giving the same speech, more government, higher taxes, more intervention, more regulation. i guess we ought to have automatic...
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Dec 9, 2013
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japanese economy slows. exclusive interview with the prime minister tells us there is no end to abenomics. good morning, everybody. i am guy johnson. >> i'm francine lacqua. let's get straight to the top corporate story. fiat is planning a $9 billion investment in new models. >> it is part of their turnaround strategy to end losses in europe and revise its italian factories. jonathan ferro joins us now with the details. big money, big focus on the romeo. marks like alfa >> it is not just about upscale and luxury, it is about the cars and fiat that are actually selling, the 500, the alfa romeo that has mass is potential at the luxury end of things and the maserati as well. u.s. selling more in the than anywhere else. it is about made in italy and it looks like it is going to be about sold in the united states. has beent in europe doing so badly and they have had to cut jobs within italy itself heard good news because they're actually leveraging the luxury branding that goes with the identity of italy. that is
japanese economy slows. exclusive interview with the prime minister tells us there is no end to abenomics. good morning, everybody. i am guy johnson. >> i'm francine lacqua. let's get straight to the top corporate story. fiat is planning a $9 billion investment in new models. >> it is part of their turnaround strategy to end losses in europe and revise its italian factories. jonathan ferro joins us now with the details. big money, big focus on the romeo. marks like alfa >> it...
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they focused on global economy to business investment. u.s. trade representative michael froman was one of the speakers. trade ed about the u.s. deals including the transpacific the ership agreement and transalantic partnership with europe. this is a little more than 20 minutes. >> good morning. i appreciate you joining us, ambassador. there's lots to talk about. massive agreements being negotiated in asia and europe. that in a timeay of political paralysis, the an nistration is taking aggressive tone on trade. >> what we have the most vicious now.e agenda right the transpacific partnership, 12 transalantic creative investment partnership, when two, we'llwith those have free trade with 65% to 0% of the global economy. we have three negotiations going on right now in geneva, on trade facilitation, on the elimination barriers, on the technology products and on services. thehere's a lot going on in trade side. and what we achieve these agreements and get them approved congress, it will position the u.s. very well as being a place where people wan
they focused on global economy to business investment. u.s. trade representative michael froman was one of the speakers. trade ed about the u.s. deals including the transpacific the ership agreement and transalantic partnership with europe. this is a little more than 20 minutes. >> good morning. i appreciate you joining us, ambassador. there's lots to talk about. massive agreements being negotiated in asia and europe. that in a timeay of political paralysis, the an nistration is taking...
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the economy is only growing about 2%. we still have a huge jobs gap to where the number of jobs we should have if we would have had a normal recovery and why would we want to make it more expensive to hire the very people, low-skilled people, young people, who have the highest unemployment rates. listen, if you have a college degree or graduate degree, listen, that unemployment rate is about 3.5%. if you have a high school degree, it's like a depression. >> people are lucky to have a job particularly at the lower end. gives them a start. get on the bottom rung of the ladder and if they work at it, get their discipline they can climb the ladder of success that's the american way. if you start raising the price of labor as -- the minimum wage and i'll include unemployment insurance, then you're kind of gumming up the whole works. >> there's the argument against it. but the argument for it, unlike 20 years ago when most minimum wage workers were teenagers, most today are bringing home more than half of their family income. t
the economy is only growing about 2%. we still have a huge jobs gap to where the number of jobs we should have if we would have had a normal recovery and why would we want to make it more expensive to hire the very people, low-skilled people, young people, who have the highest unemployment rates. listen, if you have a college degree or graduate degree, listen, that unemployment rate is about 3.5%. if you have a high school degree, it's like a depression. >> people are lucky to have a job...
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>> janet yellen is looking at a economy that's recovered a little bit. there's no sign of inflation. on the other hand what they're doing right now is extraordinary. i don't think they really felt comfortable doing these extraordinary things the and they'd like to stop doing them as soon as they can. >> we know in washington the two sides of the aisle have not had many things that they have had in common. it looks like we could get some sort of a small budget deal. if you have murray on one side and paul ryan, the congressman. if the two of them can come up with something, even if it's a small deal, what would that do to economic growth in the first half of next year? >> certainty is never good for the economy. uncertainty driven by policy. it's certainly not good for the economy. i feel quite good that murray and ryan are on this. two serious legislatures. they want to come to a deal. it's not going to be a grand bargain. we're not going to see the fundamental restructuring that we need to see. that can will be kicked down the road as it has been. even
>> janet yellen is looking at a economy that's recovered a little bit. there's no sign of inflation. on the other hand what they're doing right now is extraordinary. i don't think they really felt comfortable doing these extraordinary things the and they'd like to stop doing them as soon as they can. >> we know in washington the two sides of the aisle have not had many things that they have had in common. it looks like we could get some sort of a small budget deal. if you have...
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how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial problems that we had. what he was talking about was a connection between high income inequality, stagnant incomes for the middle class and diminished opportunity, diminished opportunity. that's what you have left out. that's essential because, look, the three of us will all agree that we in america don't push for equal outcomes but we do believe there ought to be some equality of opportunity. when inequality gets too high, opportunity gets squashed. >> that's wrong. i know that's the president's line that income has been stagnated for 40 years. that is, a, complet
how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial...
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i will take a 5% rate any day in a better economy. cheryl: you don't think they have already gotten in? that's what we've seen. the housing market yourself last two years, your industry has gone gangbusters. you don't think those purchases have already been made? >> oh, no, the pent-up demand is still growing. we've been producing between 700 and 900,000 new homes per year over the last couple years and the average per year for the last three decade is 1.5 million homes. so while our industry was up significantly, over the horrific years of 9 and 10, we're nowhere near close where we should be. there is a lot of pent-up demand that is still growing and there is a lot of room to grow and many, many buyers have not gotten in. so i'm not worried about a small tick in rates. i think we'll be fine. david: it is great so many people buying are doing a lot with cash. you say 30 to 35% cash. i've heard in areas of florida people are like, 50% cash in a lot of those areas of florida but is there a concern there? that is, are banks holding back
i will take a 5% rate any day in a better economy. cheryl: you don't think they have already gotten in? that's what we've seen. the housing market yourself last two years, your industry has gone gangbusters. you don't think those purchases have already been made? >> oh, no, the pent-up demand is still growing. we've been producing between 700 and 900,000 new homes per year over the last couple years and the average per year for the last three decade is 1.5 million homes. so while our...
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economy. remember, that is what the chancellor has been talking about in the lead up. that's where we've seen the prime minister and his visit to china press on getting money and capital to the real economy. it may be a physically xhushl budget, but how are they going to sustain the growth we've seen in the past pew months? >> helia, thanks for that. >>> the chancellor is due to stand up and give his speech around 11:15 london time, 12:15 cet. we will cover that, as well. that will lead into the bank of england decision, as well. >>> the japanese cabinet has approved a stimulus package worth $182 billion. we have the story from tokyo. >> hi, ross. this massive package is expected to push up the nation's real gdp by around 1%. government spending is to total around $54 billion. $13 billion or 25% of this will be allocated to help improve competitiveness of japanese industries and to strengthen metropolitan functions ahead of the 2020 tokyo olympics. the rest will be spent on things like reconst
economy. remember, that is what the chancellor has been talking about in the lead up. that's where we've seen the prime minister and his visit to china press on getting money and capital to the real economy. it may be a physically xhushl budget, but how are they going to sustain the growth we've seen in the past pew months? >> helia, thanks for that. >>> the chancellor is due to stand up and give his speech around 11:15 london time, 12:15 cet. we will cover that, as well. that...
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both numbers helped by low interest rates and strengthening economy. all is fair in love and war and men's clothing. mens wearhouse offered to buy joseph a. bank, which was trying to take over mens wearhouse. joseph a. bank will evaluate the offer. >> will it be take december to remember for investors or will it be a real turkey? oh, yes the all important holiday shopping season is now under way. what does it mean to your money? joining us now is liz dunn and mike holland of holland and company. thanks for being here today. we have a lot of questions to goat through. mike, every time we turn around there's a new record being set by the major indexes, the nasdaq hitting back to the level it was 13 years ago. what happens in december? does this run continue? >> history as a guide you would say yes. the last 50 years december has been a good month relative to the rest of the year. this year when you have 25% returns in the market, the newton's law tends to stay in motion. you've got good numbers come here from liz in the second and consumer looks to be ok
both numbers helped by low interest rates and strengthening economy. all is fair in love and war and men's clothing. mens wearhouse offered to buy joseph a. bank, which was trying to take over mens wearhouse. joseph a. bank will evaluate the offer. >> will it be take december to remember for investors or will it be a real turkey? oh, yes the all important holiday shopping season is now under way. what does it mean to your money? joining us now is liz dunn and mike holland of holland and...